Economic and political aspects of the persisting crisis in Southern Europe


  • João Carlos Graça SOCIUS/CSG and ISEG
  • Rita Gomes Correia SOCIUS/CSG


‘Globalist’ discourse became largely hegemonic in our cultural environment, one of the consequences of such hegemony, albeit mostly a performative one, being the crisis of nation-state and sovereignty. This nadir of sovereignty really expresses and reinforces a political process of mass disfranchisement, whereby democratic institutions are rendered irrelevant. The Euro experiment and the correspondent ‘Europeanist’ discourse ought to be understood fundamentally within this generic frame, although with a number of important specificities.

Meanwhile, a big economic crisis has deeply injured the social fabric of most Southern Europe countries, worsening Euroland’s regional discrepancies and producing a situation of seemingly permanent ‘zero-growth’ for various countries, namely Italy, Greece and Portugal. This can, however, become an occasion to interrupt the dogmatic slumber induced by Europeanism, a discussion that directly implies the consideration of multiple political aspects, relevant not only for the countries more directly impoverished, but really to all Eurozone members. 

This paper regards the evolution of various southern European economies since the beginning of this century, with particular emphasis on the Portuguese case, and suggests a confrontation with aspects referring to political attitudes.




Cómo citar

Graça, J. C., & Gomes Correia, R. (2021). Economic and political aspects of the persisting crisis in Southern Europe. Revista De Economía Crítica, 1(27), 70–85. Recuperado a partir de



20 años del Euro